Bearish pressure on ICGIt has been more or less than a month since ICG started this downward trend. Looking at level 2 quotes for the past 2 months I've noticed that for every level of SP, there's always more asks than bids. Seeing more asks than bids for few days doesn't mean much, but systematically for 8 weeks? With no new positive press releases and the word that the gold's price should end 2014 below 1300$, this stock is headed towards 0.20$. I often dismiss technical analysis as being just some woo woo stuff but they do sometimes end up by being self fulfilling prophecies. If short sellers start to short this stock (if they haven't already), ICG might have a bearish month ahead. If you're long, you should average down if you bought at 0.30$, if you bought at less than 0.20$ you should either cash in or hold but not buy.
As always, do not invest in a single stock more than you can afford to lose.
Remember, this is only my opinion! In no case should you base your investment decision on only 1 opinion. Caveat Emptor.
I do not own any interest in this stock anymore.